Polyunsaturated fatty acids (PUFAs) are fatty acids that contain more than one double bond in their backbone. They help in maintaining healthy cholesterol levels, blood pressure, and inflammatory responses in the body. PUFAs like omega-3 and omega-6 fatty acids play a crucial role in vision, brain development, and cardiovascular health. The increasing cases of cholesterol, obesity, cardiovascular diseases, and other health issues have raised awareness regarding maintaining a healthy diet and lifestyle. This has significantly boosted the adoption of PUFAs as they aid in reducing the risk of various diseases.
The global Polyunsaturated Fatty Acids Market is estimated to be valued at US$ 6.36 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
One of the key trends in the polyunsaturated fatty acids market is the rising consumption of functional food and beverages. PUFAs have various health benefits which have attracted food and beverage manufacturers to incorporate them into various food products. For instance, manufacturers are adding omega-3 fatty acids to milk, yogurt, bread, and snacks to enhance their nutritional value. Moreover, the growing vegan population has boosted the demand for plant-based PUFAs like alpha-linolenic acid (ALA) from flaxseed, chia seeds, and walnuts. The health consciousness and shift towards plant-based diets are expected to drive the functional foods and beverages segment in the coming years. Furthermore, innovations in extraction and purification technologies have enhanced the efficiency and sustainability of PUFA production. Advanced technologies help in easier separation, identification, and analysis of specific fatty acids. This enables manufacturers to offer value-added and customized PUFA ingredients.
Threat of new entrants: The polyunsaturated fatty acids market has moderate threat of new entrants due to high initial capital requirement for R&D and production plants. However, collaborations can provide opportunities.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes. However, health benefits provided by PUFAs increase buyer dependency.
Bargaining power of suppliers: Few manufacturers globally have capability to produce PUFAs at commercial scale. Thus, suppliers enjoy high bargaining power.
Threat of new substitutes: Substitutes like MUFAs and SFAs pose threat. However, increasing health awareness favors PUFAs due to proven health benefits.
Competitive rivalry: The global market is consolidated with top players accounting for majority share. However, regional players pose competition based on pricing.
The global Polyunsaturated Fatty Acids Market Growth is expected to witness high growth during the forecast period. Growing health awareness about advantages of PUFAs is driving the market. The global Polyunsaturated Fatty Acids Market is estimated to be valued at US$ 6.36 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030.
Regional analysis: Asia Pacific is the fastest growing market for polyunsaturated fatty acids due to increasing application in functional food & beverages in the region. North America dominates currently due to mature nutraceutical and pharmaceutical industries.
Key players: Key players operating in the polyunsaturated fatty acids market are Advanced, Ariba, Inc. (SAP SE), Coupa Software Inc, GEP, Procurify, Sage Intacct, Inc. (The Sage Group PLC), Sievo, SutiSoft, Inc., TOUCHSTONE GROUP PLC, VA Tech Ventures Pvt Limited (Happay), and others.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it